Panasonic to stop producing OLED TVs

Japanese electronics giant Panasonic says it is exiting the OLED screen market.

Panasonic blames the low yield and thus poor profitability on production of OLEDs, according to Advanced Television.

Panasonic says it is working to sell its existing OLED production division to Japan Display Inc, claimed to be the world’s largest producer of liquid crystal displays for smartphones and tablets, and a deal might be reached next month.

The Japan Times, commenting on the story, says that Panasonic will continue to make LCD displays for large and small screens, and to boost output at its Himeji, Hyogo Prefecture facility in order to increase the ratio of LCDs for non-TV products to ensure a profit from the factory.

High development costs and investments in production facilities has been the problem for most companies producing OLEDs. Samsung announced it paused the development of OLED TVs, and so far only LG seems to be the only major player to continue development of the technology.